Ad agency Team One rents headquarters space near Playa Vista

Advertising agency Team One will move its headquarters from El Segundo to a former U.S. Postal Service distribution center near Playa Vista that is already home to major tech and media companies including Sony and Microsoft.

Team One will rent 64,000 square feet at the Reserve, a 20-acre campus that opened this year on Jefferson Boulevard. Its centerpiece is an expansive industrial building completed in 1971 that has been converted to office space catering to companies in creative businesses.

Team One will open its new headquarters with more than 300 employees on March 1, the agency said.

Terms of the leases were not disclosed, but landlord Worthe Real Estate Group is asking for rent of about $2.90 per square foot per month, according to real estate brokers familiar with the market around Playa Vista that some have dubbed “the lower Westside.”

Clients of Team One include Lexus, Ritz-Carlton and 2K Games.

Sony’s game platform PlayStation has offices at the Reserve. Microsoft recently opened an office there that includes what it calls a technology “showcase office” to display its latest devices and software to customers. Entertainment media company TMZ also has headquarters at the Reserve.

Other old industrial buildings north of the Jefferson Boulevard boundary of the Playa Vista planned community house other advertising agencies including Deutsch, TBWAChiatDay and Zimmerman Advertising.

At Playa Vista, work is underway on the $260 million Runway development that will house movie theaters, shops, restaurants, apartments, offices and a grocery store.